My data sheet shows pin 8 is Vcc, pin 1 is gnd.  Connect 4 o 8, 2 to 6.
Connect Ra from Vcc to pin 7, Rb from 7 to 6, and your cap from 6 to gnd.
 For 1 Hz, use Ra = Rb = 330K and C = 0.1 uF.  Stability is improved by
connecting pin 5 through a 0.01 uF bypass (cheap ceramic) cap to ground.
Pin 3 is the output.  This will give about 1/3 duty cycle.  If you want a
square wave, see the data sheet.  You can get 5% 0.1 uF caps pretty cheap
(check the Panasonic V-series at Digi-Key).  If you want to trim the
frequency, adjust Ra a little bit.

Usually the best way to find the values you need is to use the equations
in the data sheet, or look them up on the charts in the data sheet.  Best
to get the correct data sheet for the part you have, but LM555C at
www.national.com is probably the same, and it has a chart that shows
frequency versus capacitance for various values of resistors.  It also
shows the circuit you need.

That was the answer to the question you asked, but here are some more
thoughts:

Other posters are probably right that an 8-pin PIC is more elegant, but
you will spend a significant amount of time writing a program and
programming the chips.  And if you don't care much about accuracy, the
555 (including caps and resistors) is still way cheaper than a PIC,
unless someone found PIC's at around $0.60 in single piece quantity,
$0.20 in volume.  The LM555C is $0.42@1, $0.18@100 pcs from Digi-Key.  No
PIC that I've ever heard of can even touch these prices.  The only way a
PIC can compete is if your accuracy requirements dictate a very expensive
capacitor, but not better than the PIC internal RC oscillator.

It's hard to find an IC anywhere in the world cheaper than a 555, but the
LM324 op-amp and LM339 comparator are about the same.  Any op-amp or
comparator can be used to generate a square wave or other waveshape
(triangle or sine for the op-amp, pulses for the comparator).  Once
again, National Semiconductor data sheets show you the way.

Another way to go is with a CMOS oscillator/divider.  The 4045 is
designed for use with a crystal to generate 1Hz pulses to drive the hands
of a clock.  I'm not sure you're going to be able to find it though.
However, the 4060 is designed for either a crystal or a single R and C,
and has a 14-bit divider included.  It would be great for a 1 Hz square
wave oscillator, and is available either as CD4060  (3-15 volt supply,
low output current) or 74HC4060 (2-6 volts, higher output drive).  Either
way, it's cheaper than a PIC (about half, for the CD4060).  If you want
crystal accuracy, a standard 32kHz watch crystal will give you 2 Hz
output.  Again, find the data sheet to look up connections and values.

If you happen to have some logic gates left over on your board, they can
also be used to generate square waves.  You need at least one inverter or
inverting gate, and one other gate or buffer.  Let me know if you want
the circuit.  It uses one cap and two resistors.  The frequency accuracy
is not great, though.

I hope you have enough options now!